I realize I started this thread and discovered that my original answer was incorrect.
In order to buy the 5 at the discounted price from Verizon, I was willing to give up unlimited data because a analysis shows that I don't use much data. Numerous Verizon reps and supervisors confirmed that all I had to do was switch to the family shared plan and add a line and then move the new line to my iPad. This way, i would be eligibile for a new phone each year with staggering eligibility.
In fact, if I also added my wife's iphone to my account as well, we would actually save $60 per month.
I ordered the iPhone online at the apple store by selecting add a line.
Well, my new phone was delivered to my office this morning and I immediately called Verizon. Asked for a supervisor to make sure no glitches and as recommended in this thread, I didn't turn the phone on.
The supervisor supposedly put my new phone on my old line and then transferred me to the iPad dept. the rep. There told me stuff that didn't make sense regarding the transfer of the new line and its activation regarding eligibility for discounted price plus future eligibility so I asked for a supervisor.
I got transferred to a plain old rep and they transferred to a rep in a different dept, etc. after 5 transfers and nearly 2 hours later, I got the right supervisor. He confirmed the process was correct but investigated and determined was a problem switching the 5 to my old number since after 2 plus hours, it had not happened.
Now, he has to call me back and said it can take 5 hours or more to remedy the problem and then we would have to go back to deal with the iPad issue. The iPad may be a further problem as well because I had tried to set up the other line a few weeks ago and to make a long story short, it was determined that I needed a new SIM card to activate it and Verizon would probably have to mail me one. Why didn't they do it already?
The bottom line is Verizon sucks!
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As an update, I did not get off of the phone with Verizon until 10:30 eastern. I started at 11:30 am. Many things have happened since my original post . Not to go into all the incompetence I dealt with but the bottom line is no one knew what the problem really was.
Apple and Verizon are both at fault.
Wen I preordered my phone at 3 am on the 14th, I selected "add a line". However, somehow stuff got mixed up and miscommunication between apple and Verizon and a new account was created that no one could find rather than just an added new line. I actually thought this was the case over a week ago and contacted apple because I saw next to my order status a shared everything plan for $100 which was the same amount as the plan I had changed to on the 13th. I checked my account on My Verizon and there was only one line listed under my account, no second line and only one phone number, not 2. When I called the Apple store customer service to get to the bottom of this last week because it made no sense, the apple rep said don't worry about it, it will be taken care of by Verizon when you activate the phone. I never got an confirmation of a new phone number from either apple or my Verizon.
By pure luck, I finally spoke with someone at verizon who totally understood all the issues and is very smart ("superstar") . All day I kept mentioning to reps and supervisors that there may a seperate account accidentally created. Finally, Superstar, realized it and is walking me through the required steps soups to nuts to fix a huge mess. It will take 48 hours before I have an operational iPhone 5 on my existing phone number and my iPad 3 on a second line having data.
The first supervisor exacerbated the problem by trying to move my existing phone number to the new phone without first having the new number associated with the new phone. No one questioned why there was no phone number associated with the new iPhone or why there was no record of a second line.
The iPad also has a problem being switched onto a data plan because obviously it can not be associated with the new line and number until my old phone number is switched from my old 4S to the new iphone 5. I am also going to have to swap SIM cards on the iPad because of a screw up with a Verizon corporate store a few weeks ago when I switched to the share everything plan. That's another story.
Another screwup was the replacement sim card was supposed to have been mailed to me weeks ago but never came. I received a trifolder with nothing in it. I called verizon 2 weeks ago to ask what was supposed to have been mailed to me. they didn't know. The Superstar figured out that the line had been cancelled by a corporate Verizon store and had not even active for 24 hours so a dummy package was sent.
I knew there was going to be a problem with the iPad SIM card and in speaking to an earlier rep, asked them to overnight a replacement sim so I could get things moving instead of walking into a Verizon. corporate store which could screw up the process. The rep agreed but of course, sent it out 3 day.
And thank goodness, the Superstar also understood how to set things up so my iPad will be added as a second line to share data with my iphone and qualify me for a discounted phone. She actually read the notes from a few weeks ago, understood all the issues and confirmed that what the original rep told me on September 13 when I switched from unlimited data to shared everything could be done.
One last side note, at one point, Verizon switched me to apple because they thought apple screwed up. I had a great tech guy who stayed on the line during the process and remained on the line as we got and spoke to the superstar. However, during the discussions with apple, we were connected to a customer support guy at apple who didn't get it and told me that the phone was defective and they had to send me a new phone which would take some time. I lost it at that point and had to explain to him that the phone wasn't defective, etc.
When the process is complete and the mess is fixed, I am certainly going to hammer both Verizon and Apple and complement the Superstar.